Broadoak Park Properties Limited - Accounts to registrar (filleted) - small 23.1.2
Broadoak Park Properties Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2022 |
| FOR |
| BROADOAK PARK PROPERTIES LIMITED |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31st October 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| BROADOAK PARK PROPERTIES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31st October 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 City Road East |
| Manchester |
| M15 4PN |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| BALANCE SHEET |
| 31st October 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| BALANCE SHEET - continued |
| 31st October 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Share premium |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31st October 2022 |
| 1. | STATUTORY INFORMATION |
| Broadoak Park Properties Limited is a private company limited by share capital, incorporated in England and Wales, registration number 02240941. The address of the registered office is 1 City Road East, Manchester, M15 4PN and the principal place of business is 12 The Coppice, Hale Barns, WA15 0DU. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. |
| Turnover |
| Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of rental income which are recognised at the point the service is provided and sale of property which is recognised at the point of completion. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. |
| Depreciation is provided on the following basis: |
| Plant and machinery | - | 20% straight line |
| Computer equipment | - | 33% straight line |
| Motor vehicles | - 25% reducing balance |
| Impairment of fixed assets |
| At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st October 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash at bank and in hand. |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Investments |
| Motor vehicles purchased as investments are initially recognised at cost, then remeasured at fair value at each balance sheet date. The profit or loss is to be recognised in the profit and loss account in the period in which it relates. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st October 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st November 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31st October 2022 |
| DEPRECIATION |
| At 1st November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31st October 2022 |
| NET BOOK VALUE |
| At 31st October 2022 |
| At 31st October 2021 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1st November 2021 |
| and 31st October 2022 |
| NET BOOK VALUE |
| At 31st October 2022 |
| At 31st October 2021 |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st October 2022 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st November 2021 |
| Disposals | ( |
) |
| Revaluations | 40,000 |
| At 31st October 2022 |
| NET BOOK VALUE |
| At 31st October 2022 |
| At 31st October 2021 |
| Fair value at 31st October 2022 is represented by: |
| £ |
| Valuation in 2021 | 75,000 |
| Valuation in 2022 | 240,000 |
| 315,000 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| BROADOAK PARK PROPERTIES LIMITED (REGISTERED NUMBER: 02240941) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31st October 2022 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Bank borrowings are secured by a fixed and floating charge over the company's assets. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
Number: |
Class |
Nominal Value: |
2022 |
2021 |
| £ | £ |
| 405 | Ordinary A | £1.00 | 405 | 405 |
| 405 | Ordinary B | £1.00 | 405 | 405 |
| 95 | Ordinary C | £1.00 | 95 | 95 |
| 95 | Ordinary D | £1.00 | 95 | 95 |
| 1,000 | 1,000 |